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How much does this financial institution gain

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Question - Pinder Ltd currently has 5 million shares outstanding that are trading at $18 per share. Due to some unforeseen problems, Pinder Ltd needs quick access to capital and decides to raise $1 million placing 100,000 shares at $10 each to a financial institution. Based only on the information above, how much does this financial institution gain from this placement?

Reference no: EM133066930

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